With the deadline to sign a new two-year budget a little over two weeks away, state senators are releasing their proposal for that spending plan Tuesday. And there are likely to be some changes from the version that overwhelmingly passed the House last month.
The House budget eliminated state income taxes for anyone making under $22,000 a year and cut them for everyone else by 6.6 percent.
Republican Senators said they wanted an income tax cut, but some are concerned about the House’s decision to drop the $250,000 small business income tax deduction down to $100,000. Senate Finance chair Matt Dolan (R-Chagrin Falls) called the move a tax increase, and Gov. Mike DeWine said he wanted the $250,000 deduction restored.
Some Senators also don't like the elimination of the $40 million film tax credit. They’re also looking at the $675 million in the House budget for wraparound services for schools, and the doubling of the money DeWine put into foster care and children services.
